US, China hold ‘constructive’ trade talks ahead of Trump-Xi Summit

Senior officials from the United States and China held what Beijing described as “candid, in-depth and constructive” discussions on trade and economic issues.

Both sides seek to stabilise relations ahead of a planned leaders’ summit next month.

According to Chinese state broadcaster CCTV, He Lifeng spoke via video call with US Treasury Secretary Scott Bessent and US Trade Representative Jamieson Greer on Thursday.

Focus on managing differences

The discussions were aimed at “properly resolving economic and trade issues of mutual concern and expanding pragmatic cooperation,” according to Chinese state media.

While the Chinese side “expressed serious concern over the recent US restrictive trade measures,” both sides agreed to strengthen cooperation.

The meeting follows earlier in-person talks held in Paris in March and comes weeks before an expected summit between US President Donald Trump and Chinese President Xi Jinping in mid-May.

Fragile stability ahead of summit

Relations between Washington and Beijing have remained relatively stable in recent months, following a trade truce reached last October during talks in Busan, South Korea, after a prolonged period of tariff escalation triggered by US trade measures.

However, underlying tensions persist. Both countries have taken steps to strengthen their negotiating positions ahead of the anticipated summit.

The United States has imposed restrictions on shipments of key technologies to Chinese firms, including one of its leading chipmakers, while China has introduced trade measures that analysts say could undermine US efforts to reduce reliance on Chinese supply chains.

The talks also take place against a backdrop of broader geopolitical challenges, including the ongoing conflict involving Iran, which has introduced additional uncertainty into global energy markets and supply chains.

Despite these pressures, both sides signalled a willingness to promote “the health, stable and sustainable development of China-US economic and trade relations,” according to CCTV.

Recent criticism highlights tensions

Earlier this month, Bessent publicly criticised China’s actions during the Middle East conflict, accusing Beijing of acting as an “unreliable global partner” by stockpiling oil and restricting exports of certain goods.

He said he had raised these concerns directly with Chinese officials but emphasised that communication between the two countries remains intact.

“I think the message for the visit is stability. We've had great stability in the relationship since last summer; that emanates from the top down,” Bessent said. “I think that communication is the key.”

Bessent also drew parallels between China’s current actions and its behaviour during previous global events, including the COVID-19 pandemic and disputes over rare earth exports.

The latest discussions suggest both sides are seeking to manage tensions while preserving a framework for cooperation ahead of the Trump-Xi meeting.

While significant differences remain, the emphasis on dialogue and stability indicates a mutual interest in avoiding further escalation, particularly as economic and geopolitical pressures continue to evolve.